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Win the battle, lose the war? The fiduciary rule moves forward

The DOL recently released a FAQ to clear any lingering confusion that may be around before the fiduciary rule goes into effect.

The Department of Labor has confirmed that the initial June 9 compliance date for the fiduciary rule will not be postponed, as opponents of the Rule had hoped. In fact, DOL has just issued FAQs that clear up some of the confusion about what those affected will and won’t need to do. Secretary Alexander Acosta reportedly shares the White House administration’s position regarding the Rule, so it would be wrong to read this as anything other than a short-term victory for the Rule’s supporters.